XRP Could Fall 20%, Says Trader Accusing Ripple of Manipulating Market

Altcoin XRP has received fresh claims its price is artificially high as a well-known cryptocurrency trader warns of serious losses. 

Brandt: Ripple manipulated XRP for years

In a series of tweets Aug. 14, Peter Brandt accused the issuer and largest holder of XRP tokens, Ripple, of price manipulation. 

XRP had dropped to its lowest level against Bitcoin (BTC) in over two years, while XRP/USD circled 11-month lows.

For Brandt, however, even current levels of $0.26 are the result of manual intervention on the part of Ripple, and not natural market forces. Should the practice ultimately fail, the token could shed another 20%.

“Will Ripple be able to manipulate the market to keep $XRP above .2400? A serious breakdown at this level, and .020725 is in the cards,” he wrote in comments accompanying an XRP/USD price chart.

When challenged about his use of language, Brandt defended himself, referencing recent sell-offs by Ripple executives as proof markets were being strategically managed. Separate data had shown Ripple sol